Solar Panel Cost Guide in Georgetown, IL (Mar 2023)
- Georgetown Solar Installation Cost: $12,116
- 25-Year Savings: $12,171
- Payback Period: 12.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Georgetown
See how much it might cost to switch to solar power in Georgetown.
In Georgetown, solar panels cost about 2.73 per watt on average. The average Georgetown homeowner needs a 6.3-kilowatt system, which would cost about $12,116 with the federal tax credit, or $17,326 before the 30% tax credit is applied.
The true price you pay can be above or below the average in Georgetown based on several factors, such as the brand of solar panels you choose and the solar installer you hire. But, after you've paid the initial cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $15,000 over 20 years on utility bills.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Georgetown
| Year | Return on Investment |
|---|---|
| 1 years | $-11,144 |
| 3 years | $-9,201 |
| 5 years | $-7,258 |
| 7 years | $-5,315 |
| 9 years | $-3,373 |
| 11 years | $-1,430 |
| 13 years | $513 |
| 15 years | $2,456 |
| 17 years | $4,399 |
| 19 years | $6,342 |
| 21 years | $8,285 |
| 23 years | $10,228 |
| 25 years | $12,171 |
Top Solar Installers in Georgetown
Many homeowners decide to hire a solar installation company since trying to put up solar panels yourself can be a labor-intensive endeavor. The payback period on a solar system will vary based on factors like your roof configuration and energy use, but working with a solar installer can shorten that period. Your provider will be able to help you identify incentives available in your area.
If you'd like to switch to solar energy but still aren't sure which solar system installer to go with, here are our suggestions for providers nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Georgetown
Factors that Affect Solar Panel Costs in Georgetown
There are many factors that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay around $2,730 per kilowatt in Georgetown. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. In addition, extra products, such as solar batteries, can bring your total well above the Georgetown average.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a popular option because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panels can influence how much it costs. Georgetown's solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.84 | $11,925 | $11,061 | 13.0 years |
| 8 kW | $2.78 | $15,594 | $15,054 | 12.7 years |
| 10 kW | $2.73 | $19,110 | $19,200 | 12.5 years |
| 12 kW | $2.68 | $22,473 | $23,499 | 12.2 years |
| 14 kW | $2.62 | $25,684 | $27,950 | 12.0 years |
| 16 kW | $2.57 | $28,741 | $32,554 | 11.7 years |
| 18 kW | $2.51 | $31,646 | $37,312 | 11.5 years |
| 20 kW | $2.46 | $34,398 | $42,222 | 11.2 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a good company.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Georgetown, IL Solar Cost FAQs
How much does it cost to install solar panels in Georgetown?
The average cost of solar panels in Georgetown is about $13,650 for a 5-kW system and $27,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Georgetown?
You can't get solar panels for free in Georgetown. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Is switching to solar power worth it?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.